Netflix, Inc. (NASDAQ:NFLX) Shares Sold by Means Investment CO. Inc.

Means Investment CO. Inc. lessened its holdings in shares of Netflix, Inc. (NASDAQ:NFLX - Free Report) by 17.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,332 shares of the Internet television network's stock after selling 287 shares during the quarter. Means Investment CO. Inc.'s holdings in Netflix were worth $1,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Capital & Planning LLC bought a new stake in shares of Netflix during the fourth quarter valued at approximately $809,000. Brighton Jones LLC increased its holdings in Netflix by 5.0% in the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after acquiring an additional 257 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in Netflix in the 4th quarter valued at $12,212,000. Revolve Wealth Partners LLC increased its holdings in Netflix by 16.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after acquiring an additional 144 shares during the last quarter. Finally, Strategic Financial Concepts LLC increased its holdings in shares of Netflix by 29.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 439 shares of the Internet television network's stock worth $392,000 after purchasing an additional 101 shares during the last quarter. Institutional investors own 80.93% of the company's stock.

Netflix Stock Up 0.8%

Shares of NFLX traded up $9.20 during midday trading on Friday, reaching $1,231.49. 5,315,825 shares of the stock were exchanged, compared to its average volume of 3,756,142. Netflix, Inc. has a 52 week low of $587.04 and a 52 week high of $1,262.81. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The company's 50 day moving average is $1,150.80 and its two-hundred day moving average is $1,010.84. The company has a market capitalization of $524.09 billion, a P/E ratio of 58.20, a PEG ratio of 2.36 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter in the prior year, the company earned $8.28 EPS. On average, sell-side analysts anticipate that Netflix, Inc. will post 24.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on NFLX shares. Wells Fargo & Company lifted their price objective on Netflix from $1,222.00 to $1,500.00 and gave the stock an "overweight" rating in a research note on Friday. BMO Capital Markets restated an "outperform" rating and issued a $1,200.00 price target (up previously from $1,175.00) on shares of Netflix in a research report on Friday, April 18th. Loop Capital restated a "hold" rating on shares of Netflix in a research report on Monday, March 24th. UBS Group boosted their price target on shares of Netflix from $1,150.00 to $1,450.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $1,220.00 target price (up from $1,150.00) on shares of Netflix in a report on Monday, May 19th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix has an average rating of "Moderate Buy" and a consensus target price of $1,172.73.

Insider Activity

In related news, insider Cletus R. Willems sold 298 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the sale, the insider now owns 31,610 shares of the company's stock, valued at $35,972,180. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total value of $2,397,393.72. Following the sale, the chief financial officer now directly owns 3,691 shares in the company, valued at approximately $3,402,068.52. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,140 shares of company stock worth $210,271,552. Corporate insiders own 1.37% of the company's stock.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.